Business Planning & Consulting

Midyear is a good time to update your business’s strategic plan

Is it time to update your business’s strategic plan? If you haven’t conducted a planning session in a couple of years, your plan may not reflect today’s business environment. We provide tips on making the process easier and less time consuming.
June 10, 2026
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Strategic planning isn’t meant to be a one-time exercise. Your plan should evolve with your business — and the environment in which it operates. Regular reviews help ensure your business remains focused on the right priorities and positioned to take advantage of new opportunities. Even if you can’t find time for extensive “big picture” thinking, […]
#BusinessGrowth, #LeadershipStrategy, #StrategicPlanning
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Tax Planning

The “kiddie tax” can apply long after childhood

The “kiddie tax” can increase a family’s overall tax liability if investment income is generated in a child’s name — even if the child is a young adult. But you may be able to minimize its impact.
June 9, 2026
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Many parents don’t know that the so-called “kiddie tax” exists. Others assume it affects only minor children. But it also can apply to full-time students through age 23 and 18-year-olds even if they aren’t full-time students. When it applies, most of the child’s unearned income may be taxed at the parent’s higher tax rate. The purpose of […]
#FamilyWealthPlanning, #KiddieTax, #TaxPlanning
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Tax Planning

Self-employed? Don’t overlook valuable tax deductions

Self-employed individuals often miss legitimate tax savings. Don’t let this happen to you. Learn the basics of claiming business expense deductions, including those for your home office, meals, vehicle and more.
June 8, 2026
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If you’re self-employed, you probably have questions about deducting business expenses on your federal income tax return. Here’s a quick overview of the filing requirements for sole proprietors and independent contractors, and five examples of expense deductions that are commonly overlooked or misunderstood. Filing basics Sole proprietors and independent contractors must report their business activity […]
#SelfEmployed, #SmallBusinessTaxes, #TaxDeductions
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Tax Planning

Beware of potential tax issues when selling self-created intangibles

Not all intangible assets are created equal in the eyes of the IRS. Learn the federal income tax treatment for capital vs. noncapital self-created intangibles — and why the distinction matters to small business owners.
June 1, 2026
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Many modern businesses rely on intangible assets, such as goodwill, trademarks and customer lists. But the IRS doesn’t treat all intangibles the same way. Questions about how these assets are taxed often arise when a business is sold, ownership changes hands, or intellectual property is licensed or transferred. Generally, intangibles qualify as capital assets that generate capital […]
#BusinessValuation, #IntangibleAssets, #TaxPlanning
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Business Planning & Consulting

Looking for funding? Consider SBA loans

It can be tough for startups and other small businesses to borrow money at favorable terms. The Small Business Administration can help. Learn about its loan programs and how to apply.
May 27, 2026
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If you’re seeking financing to start or grow a small business, don’t forget to look at loan programs through the U.S. Small Business Administration (SBA). Down payments, interest rates and borrowing fees are typically lower, and application requirements may be more flexible than you’d find elsewhere. Some SBA loans also come with counseling and education, […]
#BusinessGrowth, #SBALoans, #SmallBusinessFunding
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Retirement Planning

Self-employed? Don’t overlook a Roth IRA

Small business owners: If you think your income is too high for you to qualify to make Roth IRA contributions, think again. Many self-employed individuals are eligible for contributions without realizing it.
May 26, 2026
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Some small business owners overlook Roth IRAs because they assume their income is too high for them to qualify to make Roth contributions. Others may think their current tax rate is higher than it will be in retirement, making current tax deductions more valuable than future tax-free distributions. However, if you don’t at least consider contributing to […]
#RetirementPlanning, #RothIRA, #SmallBusinessTaxes
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Business Planning & Consulting

What you can do to protect your business from rising costs

Although inflation is rising, businesses can manage higher prices and even thrive by lowering costs and enhancing cash flow. We suggest several ideas for fighting the effects of inflation.
May 20, 2026
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For the 12 months ending in April 2026, the U.S. inflation rate was 3.8%, according to the U.S. Bureau of Labor Statistics. Prices for your business’s products, materials and other operating costs may have risen faster in recent months than you anticipated, making planning and forecasting challenging. How can your business counteract inflation? Start by making prudent […]
#BusinessStrategy, #CashFlowManagement, #InflationPlanning
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